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money-laundering

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Indian among 3 jailed for money-laundering in UK

Hindustan Times, London | By HT Correspondent
UPDATED ON SEP 30, 2019 09:31 PM IST
The three --- Tarun Jain, 50, Ike Obiamiwe, 56 and Daniel Jordan, 36 --- have been jailed by the Kingston Crown Court for three counts of money-laundering, the CPS said on Monday. Jain was sentenced to two years and four months in jail.
Law violators spend or invest the illegitimate money not to gain profit but to conceal the source. They are fully capable of investing in a loss-making business.(PTI)
Law violators spend or invest the illegitimate money not to gain profit but to conceal the source. They are fully capable of investing in a loss-making business.(PTI)

Money laundering causes distortion in the economic statistics

By Karnal Singh
UPDATED ON FEB 05, 2019 07:52 AM IST
We need complete devotion to ensure that the development of the country is not hindered due to vested interests and corrupt elements in the society.
Detecting the movement of illegitimate funds in the banking system is a challenging task. However, it is not an impossible one.(Reuters / File)
Detecting the movement of illegitimate funds in the banking system is a challenging task. However, it is not an impossible one.(Reuters / File)

Detecting the movement of illegitimate funds is a challenging task

By Karnal Singh
UPDATED ON JAN 21, 2019 07:50 AM IST
Illegitimate money has many forms. It is black money if it comes from tax-evasion, pink money if its source is drugs and red money if it’s crime.
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